Northwestern Mutual Wealth Management Co. Sells 22,115 Shares of Warner Bros. Discovery, Inc. $WBD

Key Points

• Northwestern Mutual Wealth Management Co. reduced its stake in Warner Bros. Discovery by 24.3%, selling 22,115 shares in the first quarter, now holding 68,729 shares valued at approximately $737,000.
• Warner Bros. Discovery's stock has seen a decrease of 3.5%, with a current price of $11.64 and a market capitalization of $28.82 billion as it faces a challenging market environment.
• In a positive earnings report, Warner Bros. Discovery exceeded analysts' expectations, reporting a $0.63 EPS for the last quarter, significantly up from a loss of ($4.07 EPS) in the same period last year.

Northwestern Mutual Wealth Management Co. cut its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 24.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 68,729 shares of the company's stock after selling 22,115 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Warner Bros. Discovery were worth $737,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in WBD. Financial Gravity Asset Management Inc. bought a new position in Warner Bros. Discovery in the first quarter valued at $27,000. North Capital Inc. acquired a new stake in Warner Bros. Discovery in the first quarter valued at $28,000. Smallwood Wealth Investment Management LLC acquired a new stake in Warner Bros. Discovery in the first quarter valued at $29,000. Ameriflex Group Inc. acquired a new stake in Warner Bros. Discovery in the fourth quarter valued at $30,000. Finally, Golden State Wealth Management LLC lifted its stake in Warner Bros. Discovery by 448.0% in the first quarter. Golden State Wealth Management LLC now owns 2,877 shares of the company's stock valued at $31,000 after acquiring an additional 2,352 shares during the last quarter. Institutional investors own 59.95% of the company's stock.

Warner Bros. Discovery Stock Performance

Warner Bros. Discovery stock traded down $0.15 during midday trading on Thursday, hitting $11.77. The company's stock had a trading volume of 66,218,719 shares, compared to its average volume of 47,089,164. Warner Bros. Discovery, Inc. has a 1-year low of $6.78 and a 1-year high of $13.86. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.04 and a quick ratio of 1.04. The company has a 50-day moving average price of $12.04 and a two-hundred day moving average price of $10.52. The company has a market cap of $29.14 billion, a price-to-earnings ratio of 39.23, a PEG ratio of 1.55 and a beta of 1.59.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.79. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The business had revenue of $9.81 billion during the quarter, compared to analysts' expectations of $9.73 billion. During the same quarter in the previous year, the company earned ($4.07) EPS. The business's revenue was up 1.0% on a year-over-year basis. As a group, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Anton J. Levy bought 75,000 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were purchased at an average cost of $11.00 per share, with a total value of $825,000.00. Following the acquisition, the director directly owned 949,000 shares in the company, valued at $10,439,000. This represents a 8.58% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have commented on WBD. Wells Fargo & Company increased their price target on shares of Warner Bros. Discovery from $11.00 to $13.00 and gave the company an "equal weight" rating in a research note on Friday, August 8th. KeyCorp cut their target price on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Barclays raised their target price on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 9th. Guggenheim restated a "buy" rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Finally, Needham & Company LLC restated a "hold" rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of "Moderate Buy" and a consensus target price of $13.14.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery, Inc operates as a media and entertainment company worldwide. It operates through three segments: Studios, Network, and DTC. The Studios segment produces and releases feature films for initial exhibition in theaters; produces and licenses television programs to its networks and third parties and direct-to-consumer services; distributes films and television programs to various third parties and internal television; and offers streaming services and distribution through the home entertainment market, themed experience licensing, and interactive gaming.